SBI VC Trade and South Korea's Shinhan Card Reach Collaborative Intent to Explore Offline Yen Stablecoin Payments

On October 21, according to CoinPost, SBI Group's cryptocurrency exchange SBI VC Trade and SBI Holdings' joint venture SBI XDC Network APAC signed a letter of intent with Shinhan Card, one of South Korea's largest credit card companies, to jointly build a blockchain-based global payment ecosystem.

The three parties will explore integrating digital assets, such as the yen stablecoin, with offline store payment services, and assess the commercial viability of new digital payment services and business models through pilot experiments. Specifically, SBI XDC Network APAC and Shinhan Card will collaborate to advance the development of XDC Network infrastructure and ecosystem for trade finance and enterprise scenarios.